BT Money Hacks1 Maj 2022

S1E118: How millennials can boost their retirement savings: BT Money Hacks Ep 118

Synopsis: Every first and third Monday of the month, The Business Times breaks down useful financial tips.

Thanks to the current environment, millennial and Gen-Z investors - projected to inherit US$48 trillion of wealth over the next 25 years, are facing the daunting challenge of securing their own retirements. So what can this generation do and how would understanding their behaviour make institutions better able to cater to their needs?

For more insights, correspondent Howie Lim speaks to Carol Fong, Group CEO of CGS-CIMB Securities.

Highlights of the conversation:

01:12 Why millennials are behind other generations in retirement savings

04:17 Why millennials eschew ‘traditional’ advisors

06:30 Top 5 tips for millennials to jumpstart their retirement savings

09:45 Why just relying on advice from social media is risky

Produced by: Howie Lim (howielim@sph.com.sg) and Christopher Lim

Edited by: Howie Lim

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